Business Loan

Nagrik Bank Business Loans are a perfect solution to service your short-term finance and working capital requirements. With Nagrik Bank at your service, you can focus on growing your business while we take care of financing your business expansion needs.

Product Features

• Loan amount from Rs.10 Lakhs upto Rs.35 Lakhs
• Convenient loan repayment option of 12 to 36 months
• No security or collateral required to avail this loan

Eligibility & Loan Criteria

• Business Loans can be availed by self-employed individuals, self-employed professionals, sole proprietorships, partnership firms and private limited companies (including closely-held public limited companies), with a profitable business for the past 3 years

• Applicant’s age should be minimum 27 years at the time of application and maximum 65 years at loan maturity
• Minimum 5 years of experience required in the same line of business with at least 3 years of business establishment & operation in the same city. For self-employed professionals, minimum 
  4 years of post-qualification experience is required
• Minimum business turnover required is & Rs.1 Crore and for Professional / Service Sector, applicant’s gross receipts should be at least  60 Lakhs
• Applicant must own either residence or office in his name or jointly with family members or resides in a residence owned by an immediate family member

List of Documents Required

• PAN Card – For Individual / Partnership Firm / Company
• Identity Proof – Any one (e.g. Voter ID / Driving License / Passport / Aadhar Card)
• Address Proof – Any one (e.g. Voter ID / Driving License / Passport / Telephone Bill / Electricity Bill / Registered Lease Deed or Sale Agreement / Bank Statement)
• Ownership proof of either residence or office either in the name of applicant or jointly with family members
• Business Continuity Proof – Any one document dated 5 years old (Bank Statement / Sales Tax Challans / IT Returns / Shops & Est. Certificate / Certificate of Incorporation / Partnership Deed)
• Letter certifying end use of the business loan funds on Business Letterhead
• Passport Size Photographs of all applicants and co-applicants

List of Financial Documents Required

FOR SELF-EMPLOYED INDIVIDUALS / SOLE PROPRIETORSHIPS

• Latest audited ITR and financials for the last 2 years (Balance Sheet, Profit & Loss A/c., Computation of Income along with all schedules.)
• Bank statements from the borrower’s main account/s for last 6 months and 3 months of all other bank accounts mentioned in the Balance Sheet

FOR SELF-EMPLOYED PROFESSIONALS

• Latest audited ITR and financials for the last 2 years (Balance Sheet, Profit & Loss A/c., Computation of Income along with all schedules.)
• Bank statements from the borrower’s main account/s for last 6 months and 3 months of all other bank accounts mentioned in the Balance Sheet
• Professional Qualification Certificate and Degree Certificate for professionals (Doctors, Architects, Chartered Accountants etc.)

FOR PARTNERSHIP FIRMS / PRIVATE LIMITED COMPANIES

• Latest audited ITR and financials for the last 2 years (Balance Sheet, Profit & Loss A/c., Computation of Income along with all schedules.)
• Bank statements from the main account/s for last 6 months and 3 months of all other bank accounts mentioned in the Balance Sheet
• Partnership Deed and partnership authority letter for partnership firms
• Memorandum and Articles of Association and Board Resolution from the company
• Certificate of Incorporation (COI) for companies
• Latest shareholding patterns for Private Ltd. / Public Ltd. companies